If a subsidy was imposed on an industry whose production imposed external benefits on others, then the goods' consumers of the good would be ____ and the result would be a(n) ____ in efficiency
a. better off; increase.
b. better off; decrease.
c. worse off; increase.
d. worse off; decrease.
a
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Including investment and production in the two-good, two-period model with trade
A) allows the country to equalize absorption and output demand. B) renders terms of trade endogenous. C) allows the country to react to changes in the interest rate. D) allows the government to run budget deficits.
A deadweight loss arises in a perfectly competitive market as each firm is a price taker
a. True b. False Indicate whether the statement is true or false
If E$/£ increases by 20%, this is consistent with an increase from:
a. 4 to 5. b. 4 to 6. c. 5 to 6. d. 4 to 7.
Refer to the table below. An output level of 15 units, this firm's accounting profit is ________, and its economic profit is ________.QuantityTotal RevenueExplicit CostsImplicit Costs1050365157563620100937251251258301501619
A. $12; $6. B. $6; $63. C. $63; $6 D. $6; $12